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Middle distillate cracks have reached record highs due to a combination of renewed Middle East conflict affecting the Strait of Hormuz and Russia's ban on diesel exports following Ukrainian drone attacks on refineries.

The Strait of Hormuz saw reduced tanker traffic, with only four crossings reported on Tuesday compared to a ten-day average of 13, as U.S.-Iran tensions escalate.

U.S.

Oil prices rose in early Asian trade as WTI reached $91.05 per barrel (+0.92%) and Brent reached $95.68 per barrel (+1.19%) following renewed hostilities between the U.S.

Saudi Arabia aims to displace over 1 million barrels per day of domestic liquid fuel consumption by 2030 using natural gas and renewables, with nuclear power planned for further reduction post-2030.

The Port of Corpus Christi was selected as one of two sites for a project integrating small modular reactors (SMRs) to expand nuclear power usage in industrial sectors.

In recent years, the European Union has replaced one critical energy and security vulnerability with another heavy dependence for its …

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell 2.6 million barrels in the …

A federal judge allowed antitrust lawsuits against major U.S.

Treasury Secretary Scott Bessent claims the Strait of Hormuz could become obsolete within two years due to accelerated pipeline infrastructure projects in the Gulf region, triggered by recent disruptions from the Iran conflict.

Escalating U.S.-Iran tensions have reignited concerns over Middle East oil supply disruptions, pushing regional oil benchmarks above $100 per barrel.

Two oil supertankers, including a VLCC operated by Saudi Arabia's state shipping giant Bahri, were struck by unknown projectiles in the Strait of Hormuz, a critical chokepoint for global oil transit.